Brisbane-based software company Notiv has been acquired by ASX-listed voice recording software company Dubber for $6.6 million.
Notiv developed a cloud-native AI-based automated transcription platform, using digital signal processing, speech-to-text, natural language processing (NLP) and other technology to automatically transcribe audio recordings.
Dubber said the acquisition adds functionality to its platform and new staff skilled in artificial intelligence and data science, while also expanding Notiv’s reach to a global market. The company added the technology would also bolster its Foundation Partner program, calling the new capability "a compelling proposition" for managed service provider partners.
"One of our fundamental beliefs is that artificial intelligence has a part to play as a standard feature of every call and conversation. Notiv is a significant step towards achieving this in that it has clear and defined use cases for everyone from individuals to the largest of enterprises,” Dubber chief executive Steve McGovern said.
“With Notiv, Dubber will now have the ability to automatically take notes and create action items on every call. We are confident that our telecommunications carrier and service provider partners will see enormous potential for revenue-generating value-added services for their customers at scale.”
Notiv co-founders, chief executive Chris Raethke and chief technology officer Iain McCowan will remain to lead the business under the Dubber umbrella. Dubber will also acquire the company’s US-based parent, Pinch Labs.
Speaking on the acquisition, Raethke said, "The Notiv team is exceptionally proud of the technology we have developed. The ability to roll out Notiv globally with the world's leading service providers is an unmissable opportunity. The chance to join the Dubber growth journey at this time and expand Dubber's AI and NLP capabilities is exciting for all of us.”
“We are confident that the combination of Dubber and Notiv will deliver incredible value
to customers, businesses and our fellow shareholders alike."